Close Brothers Group (LON:CBG) Stock Passes Above 200-Day Moving Average – Here’s Why

Close Brothers Group plc (LON:CBG)’s share price passed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of GBX 431.10 and traded as high as GBX 455.60. Close Brothers Group shares last traded at GBX 449, with a volume of 243,120 shares traded.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on CBG. UBS Group reissued a “neutral” rating and set a GBX 535 price objective on shares of Close Brothers Group in a research report on Monday, September 15th. Peel Hunt reiterated an “add” rating and set a GBX 300 price target on shares of Close Brothers Group in a report on Tuesday, November 25th. Shore Capital reissued a “hold” rating and set a GBX 510 price target on shares of Close Brothers Group in a research report on Thursday, November 20th. Canaccord Genuity Group reiterated a “buy” rating and set a GBX 400 target price on shares of Close Brothers Group in a research note on Thursday, October 16th. Finally, Panmure Gordon reissued a “hold” rating and issued a GBX 500 target price on shares of Close Brothers Group in a report on Thursday, October 9th. Three equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of GBX 490.63.

Close Brothers Group Stock Up 1.5%

The firm has a market capitalization of £675.86 million, a PE ratio of -6.71, a PEG ratio of 1.87 and a beta of 0.82. The stock’s fifty day simple moving average is GBX 444.01 and its 200 day simple moving average is GBX 431.10.

Close Brothers Group (LON:CBG) last issued its quarterly earnings data on Thursday, November 27th. The company reported GBX 30.90 earnings per share (EPS) for the quarter. Close Brothers Group had a net margin of 7.79% and a return on equity of 5.78%. On average, analysts predict that Close Brothers Group plc will post 66.0070671 EPS for the current year.

Close Brothers Group Company Profile

Close Brothers Group plc, a merchant banking company, engages in the provision of financial services to small businesses and individuals in the United Kingdom. It operates through five segments: Commercial, Retail, Property, Asset Management, and Securities. The company offers banking services comprising of debt factoring, invoice discounting, asset-based lending; financing for SMEs, residential housing, transport, industrial equipment, renewable energy, motorcycle, used car, and commercial vehicle financing; insurance, refurbishment, and bridging financing, savings products for individuals and corporates, hire purchase, lease, and loan related services.